Archive For The “Oil” Category

The output from the giant South Pars Gas Field in the Persian Gulf has been doubled in the past five years, the managing director of Pars Oil and Gas Company said. “Iran is now extracting around 600 million cubic meters per day of natural gas from the field, twice the amount five years ago,” Mohammad…

Iran’s Persian Gulf Star Refinery in the southern province of Hormozgan is the first of its kind designed based on gas condensate feed-stock recovered from South Pars gas field which Iran shares with Qatar in the Persian Gulf. Construction of the refinery started in 2006, but the project was delayed as the result of some …

Director General for export development department of Trade Promotion Organization Masoud Kamali Ardakani said on Saturday that petrochemicals and minerals export in year 1396 (2017-2018) increased 6.5 percent with amount of around 47 billion dollars. According to the Customs statistics, petrochemicals export with exclusion of gas condensates had 8 percent decrease with amount of around…

Exports volume for Iran’s crude oil stands at two million and one hundred thousand barrels per day (mb/d) in March 2018. The figure is expected to increase in April 2018. China and India are the largest buyers of Iranian crude, with more than one million barrels in total. The figure is expected to reach nearly…

Iran‘s rich sour gas production in the supergiant South Pars Gas Field in the southern Iranian province of Bushehr will increase 56 million cubic meters per day in the year to March 2019, said the managing director of Pars Oil and Gas Company (POGC). Mohammad Meshkinfam noted that Iran extracted an average of 550 million…

India, the world’s No. 3 crude oil consumer, received about 266,000 barrels per day (bpd) of oil from Iran in November, according to a review of tanker arrival data from trade sources and numbers available on Thomson Reuters Eikon. For April-November, the first eight months of this fiscal year, India shipped in about 427,200 bpd,…

Iran, the world’s biggest gas reserve holder (33.5 trillion cubic meters, 18 percent of the total) has increased its gas output significantly and is targeting an output of 1 bcm/d by March 20, 2018. Iran prefers to export liquefied natural gas (LNG) to distant markets including the EU, but no agreement has yet been reached…

National Iranian Oil Company (NIOC) announced that negotiations with Denmark‘s Maersk Group over the development of South Pars oil production project is underway. “Parallel talks have started with other multinationals to undertake the megaproject,” said Karim Zobeidi, the head of a special department at NIOC that oversees the performance of reservoirs, ISNA reported. Pointing to…

Iran says a host of European giants are bidding for the development of its South Azadegan oil field – which was once considered as the world’s biggest oil find after it was discovered over 15 years ago. Nouroddin Shahnazizadeh, the managing director of the Petroleum Development and Engineering Company of Iran, told the domestic media…

South Korea’s SK Engineering and Construction Co (SKEC) signed a heads of agreement on Saturday for a 1.6 billion euro upgrade of the Tabriz refinery in northwest Iran, the Shana news agency said. South Korean National Assembly Speaker Chung Sye-kyun, who is in Tehran to attend President Hassan Rouhani’s swearing-in, oversaw the signing between SKEC,…